| Summary/Abstract |
America’s emergence as a leading producer and prospective major exporter of liquid hydrocarbons – petroleum and liquefied natural gas (LNG) – presents it with historic opportunities: negating OPEC’s ability to control world prices; thwarting Russian manipulation of natural-gas supplies for political ends; reducing global dependence on the volatile Middle East and vulnerable Persian Gulf; and giving US allies in Europe and East Asia an alternative to insecure supplies. A further opportunity looms for the United States to supply energy to China, and in doing so to realise economic gains, help China reduce greenhouse-gas emissions and lend stability to the world’s most critical relationship. China, too, has much to gain.
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